Shares of Infosys, the country’s second largest software services company, rose as much as 6.46 per cent to hit an intyraday high of Rs 732.50 after the company said it received no evidence to support the allegations in a whistleblower letter from last month which alleged unethical practices and accused CEO Salil Parekh of leading an effort to shore up profits through irregular accounting. On the National Stock Exchange, Infosys shares rose as much as 6.48 per cent.

“There is no supporting evidence that has been received by the Company along with these Anonymous Complaints to substantiate the allegations,” Infosys said in a letter to exchanges on Saturday.

Infosys said last month that the US Securities and Exchange Commission (SEC) had launched a probe into whistleblower claims that the Indian software services firm used ‘unethical practices’ to boost revenue and profit.

The complaints were still under investigation and the company was not in a position to determine “concreteness, credibility and materiality of complaints”, the Bengaluru-based company said in its letter to the NSE.

Following the allegations made by whistleblower last month, Infosys shares nosedived as much as 17 per cent on October 22 suffering their worst single-day fall in over six years.

However, Infosys shares have been on a winning streak for last seven sessions and have gained over 8 per cent.

As of 12:21 pm, Infosys shares traded 3.5 per cent higher at Rs 712.05, outperforming the Sensex which was trading on a flat note.

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